Amazing Trade Data Supports Australian Dollar

The Australian dollar fell against its US peer but was otherwise firm thanks to the amazing trade data released from Australia during the trading session.

Australia’s trade balance demonstrated a surplus of A$3.51 billion in December, which was the biggest since 2010. Seasonally adjusted building approvals fell 1.2% in December from November, which was a better reading than the 1.7% drop predicted by analysts. The Australian Industry Group Australian Performance of Services Index fell from 57.7 in December to 54.5 in January, though it remained firmly in the expansionary territory.

AUD/USD fell from 0.7655 to 0.7647 as of 9:50 GMT today. At the same time, AUD/CHF rose from 0.7598 to 0.7607 after slipping to the low of 0.7586 intraday.

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